April 26 (SeeNews) - Slovenian reinsurer Sava Re [LJE:POSR] said that the consolidated net profit of the Sava Insurance Group rose by 35.1% to 76.2 million euro ($81.4 million) in 2021.
“The record net profit of 76.2 million euro was driven by better performance - revenue growth, a favourable claims experience, cost efficiency and the investment return - of virtually all operating segments,” Sava Re, the ultimate parent company of the Sava Insurance Group, said in a filing with the Ljubljana Stock Exchange.
The group achieved a return on equity of 15.8%, exceeding its target by 37.4%, while its operating revenue increased 7.6% to 732.7 million euro, the statement reads.
"The group successfully realised its development strategy of customer-centricity, IT overhaul and digital transformation in 2021. Adapting services, making them faster and more easily accessible, strengthening customer relationships and elevating the customer experience have been and remain the Group's guiding principles," Sava Re said.
Elsewhere in Southeast Europe, apart from Slovenia, the Sava Insurance Group has operations in Croatia, Kosovo, North Macedonia, Montenegro and Serbia.
($ = 0.936128 euro)
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